BTC Isn't Panacea, CEO Ripple Says

CEO Ripple said that the BTC blockchain is "quite slow," whereas XRP transactions are "a thousand times faster"
06 June 2018   706

Brad Garlinghouse from Ripple told CNBC that Bitcoin wouldn't solve the problems that people thought it would.

I think it's (bitcoin) not going to be the panacea that people once thought it would be, where it would solve all of these different kind of problems... Instead, you're seeing specializations of different kind of ledgers, different kinds of blockchains.
 

Brad Garlinghouse

CEO, Ripple

Garlinghouse noted that XRP transactions are "a thousand times faster" than bitcoin's, which he called "rather slow."

It is true that bitcoin is much slower. During the interview, the average BTC transaction was 42 minutes according to Blockchain.info, while XRP transactions take about four seconds, although it should be noted that the Bitcoin trade volume is much larger than that of XRP.

Well, I don't really think about it as one versus the other. I mean, it's actually unfortunate, I think, that there's some people in this, the crypto space, the blockchain space — for them, it's almost a holy war of one versus the other. I don't look at that at all. I think that what we're seeing is the overall growth of this space and there will be many winners.
 

Brad Garlinghouse

CEO, Ripple

At the moment, Ripple is prosecuted in lawsuits by a person who lost money in XRP trading and who now claims that the company has violated the US Securities Act.

Ripple to Plan to Target Chinese Market

It has became known that Ripple has plans for Chinese market as early as in March
16 August 2018   149

Ripple, the provider of financial solutions, plans to enter the Chinese market with its blockchain solution for international payments. This is reported by CNBC.

China is definitely of interest, it is definitely a target. China is definitely a country and region of interest.
 

Jeremy Light
Vice president of European Union strategic accounts, Ripple

It has became known that Ripple has plans for Chinese market as early as in March. As the head of the Ripple representative office in the Asia-Pacific region, Sagar Sarbhai, stated at the time, the company is actively negotiating with state institutions and banks of the PRC, regulating regulatory and legal issues, as well as educational work, telling about the advantages of new payment solutions.

Earlier, Ripple entered into a deal with a financial firm from Hong Kong LianLian International. The purpose of the agreement is the use of the xCurrent product by the Hong Kong company to create a system of international payments.

The Ripple product based on the distributed registry technology was originally created for the organization of fast and international payments. More than 100 financial organizations cooperate with the company, including UniCredit, UBS and Standard Chartered.

Against Ripple Labs there has been filed three lawsuits on charges of manipulating the price of the XRP token. At the same time one of the claims was rejected by the Northern District Court of California.